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  • Mindax To Start Next Phase Drilling At Meekatharra North Gold Project In Western Australia 0 comments
    Jan 19, 2014 10:04 PM

    Mindax (ASX: MDX) will to start in February a small deep drilling program of about 1,600 metres at its Meekatharra North Gold Project in Western Australia.

    This targets both down dip and down plunge extensions of the high grade drill intersections of up to 15.3 grams per tonne gold reported in October 2013.

    Estimated costs of about $300,000 have been provided by Chenfei Zhuang and Zhensheng Zhuang under a farm-in agreement reached in October 2012.

    "We are pleased to continue the work programme at Meekatharra North with the full support of our JV partners," managing director Dr Steve Ward said.

    "The area is highly prospective and this new work will focus on the very encouraging high grade intersections found in the initial 2013 drilling program. We look forward to receiving the new results in the coming months."

    Drilling Program

    Yilgarn and Pilbara based drilling contractor, Ausdrill Northwest Pty Ltd, have been contracted to complete the drilling program, which is expected to take two weeks to complete. Preplanning is well advanced.

    The work involves deep Reverse Circulation drilling up to 300 metres below surface to target down dip and down plunge extensions of the high grade drill intersections reported on 4 October 2013.

    The drilling will further verify the strike and down plunge continuity of the gold mineralisation.

    Besides the peak result of 1 metre at 13.5g/t gold, the company also intersected 5 metres at 5.05g/t gold and 3 metres at 9.75g/t gold.

    Meekatharra North is located along strike from the Paddy's Flat gold field (where 2.5 million ounces have been produced) and immediately south of Doray Mineral's (ASX:DRM) high grade Andy Well Gold mine, which has a 441,000 contained ounce resource at 11.2 grams per tonne gold.

    Analysis

    The upcoming exploration program at Meekatharra North will follow up on some promising results from previous drilling that could potentially unlock a high grade gold deposit for Mindax in close proximity to other finds.

    That the cost of drilling is covered under its farm-in agreement with Messrs Zhuang is another positive.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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